Traders Cooperative

[ItsAllCyclical]

>> I truly don't understand the market optimism today in face of unemployment numbers tomorrow. <<

Large rallies like this are much more characteristic of bear markets than bull markets. I forget the exact study, but it was done recently. Smelled like short covering and mo mo money. Could have more to run as the Naz is near highs here, but I think it'll come back to earth no later than the 3rd week of June as we get closer to earnings season. People are going to want to go heavier cash going into that time is my guess.

Today is especially weird in that oil went up about $6.

One potential explanation is that the jobs are expected at -60,000. Pretty bad number - wouldn't take much to exceed it especially since they can play w/the birth death model all they want. My guess is jobs come in flat or at least better than expected - all lies anyway. Market rallies initially but then ends the day red or flat. We'll see.